South Korean pop star is a rich man and it’s all thanks to one viral video
Psy’s “Gangnam Style” is the biggest and most popular song (and video) of the past years, spanning countless covers, tributes, spoofs and re-interpretations. It’s also made Psy a very rich man, as recent figures indicate.Though already a famous pop star in his native country, South Korea, before “Gangnam Style” exploded online, it’s with this song that Psy has finally reached to audiences in the most remote corners of the world.
While he’s working on expanding on the Psy brand and conquering other markets as well, Psy is also laughing all the way to the bank, Inquisitr reports.
The K-pop star stands to make an estimated $8 million (€6.1 million) with just this song. It’s not that much considering how big the song is, industry people say, but it’s still an incredibly hefty amount.
Very little of it has come from his native country, though.
“Gangnam Style” has been very good to Psy. The South Korean rapper’s earnings are reportedly in the $8 million [€6.1 million] ballpark,” the e-zine says.
“Although Psy has made a small fortune off the catchy tune and its peculiar dance, not much of the money came from South Korea or Asia. In fact, the rapper only made around $60,000 [€45,920] from online sales in his native country,” the same media outlet says.
“Psy and YG Entertainment have earned around $870,000 [€665,850] from ads displayed on his YouTube channel. […] The song has been downloaded roughly 2.1 million times from iTunes. Nielsen SoundScan states that ‘Gangnam Style’ continues to be an exceptionally strong performer months after its release,” Inquisitr further writes.
Add to that paid television appearances all across the world (just think how many of them he’s already done in the US), interviews and endorsements, and you realize Psy really struck gold with the catchy single.
Now, all that’s left for him to do is to start thinking and planning for the future. Many believe his success will be just a flash in the pan, in which case, he’d better invest the money he’s made so far.